Discover's breakup fee; TD, JPMorgan Chase draw AI talent
American Banker
In-depth analysis, perspective and commentary on key issues affecting the banking industry.
Discover to pay Capital One $1.38B if it accepts another offer: The two companies in the largest bank merger since the 2008 financial crisis released details of their agreement. It leaves the door open for 发现金融服务公司 to field better offers, though the payments company would pay a break-up fee of 4% if it accepts one.
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This Virginia bank wants to rewrite the rules for banking as a service: MainStreet Bancshares in Fairfax says it can succeed where others have run into some thorny regulatory problems by cutting out the middleware and linking fintech partners directly to its core.
Credit card issuers' APR margins hit record 14.3% in 2023, CFPB says: Lenders collected an estimated $25 billion in additional interest income last year by raising the average margin on annual percentage rates, or the amount above the prime rate, according to the Consumer Financial Protection Bureau .
JPMorgan Chase, TD draw AI talent through research labs: The AI research group at 摩根大通 has published 400 papers, according to new research from Evident; TD Bank Group's Layer 6 unit published 14 last year. These groups work to solve real-life problems in the business units.
Read more on AI: How Google is accelerating Worldline's push into AI
Join us to experience the most exciting developments in payments at this year’s?Payments Forum, March 27-28, 2024?at the Diplomat in Hollywood, Fl. ?
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